Investor Newsletter – January 16, 2015
Highlights for 2014 and Goals for 2015:
The last few quarters of 2014 have followed the trend of 2013, with each quarter showing higher sales than a year ago, as well as higher sales than the immediately preceding quarter. Furthermore, each quarter has been profitable, and we expect to end our Fiscal Year 2015 on February 28, 2015 showing another year of sales growth, profitability, and strong cash and investment balances. While parts of the world are reporting slow or no growth, we are adding new distribution channels, new products, and new market segments that have allowed us to grow none-the-less.
Sales of our 3 axis robotic coating systems continues to be strong, with orders from advanced energy, medical coating, and electronics customers. Sales of our legacy line of printed circuit board fluxing equipment and our medical device coating systems has also been strong this past year. We also are pleased to report growing applications for our food industry antimicrobial coaters, now with customers beyond the US in Europe and Latin America.
We have been taking opportunities to improve our manufacturing platform, and are actively pursuing programs such as lean manufacturing and Kanban, which are designed to increase quality, reduce cycle time, and achieve more cost effective production.
Sono-Tek has continued its growth track based on diversification of applications for ultrasonic precision coatings, combined with the development of offshore markets. We believe there are many opportunities for our advanced spraying and coating systems, limited only by our imagination and the required development time for each new application. We have remained a profitable company with an increasing cash position, even as we invest in technology development, market development, and improvement of our infrastructure here. We have confidence in our plan, our team and our technology. Our goal remains to carry this company forward to double digit growth, by continuing the penetration of ultrasonic spraying and coating deeper into existing applications, and into new applications each year.
The year 2015 is an important milestone for Sono-Tek, as we are celebrating our Fortieth Year in business. The past decade has seen a quadrupling in our business, and we expect continued growth in the next five to ten years as more applications come online.
For further information, contact Dr. Christopher L. Coccio, at 845-795-2020, or email firstname.lastname@example.org.
Sono-Tek Corporation is a leading developer and manufacturer of liquid spray products based on its proprietary ultrasonic nozzle technology. Founded in 1975, the Company’s products have long been recognized for their performance, quality, and reliability.
This investor newsletter contains forward looking statements regarding future events and the future performance of Sono-Tek Corporation that involve risks and uncertainties that could cause actual results to differ materially. These factors include, among other considerations, general economic and business conditions; political, regulatory, competitive and technological developments affecting the Company’s operations or the demand for its products; timely development and market acceptance of new products; adequacy of financing; capacity additions; maintenance of profitability and the ability to enforce patents. We refer you to documents that the company files with the Securities and Exchange Commission, which includes Form 10-K and Form 10-Qs containing additional important information.